Peterson Institute for International Economics

The Walt Disney Company Names Hugh Johnston as Senior Executive Vice President and Chief Financial Officer

Retrieved on: 
Monday, November 6, 2023
Entertainment, Film & Motion Pictures, TV and Radio, General Entertainment, Online, Mobile Entertainment, Licensing (Entertainment), Microsoft, NYSE, Syracuse University, Merck & Co., PepsiCo, The Walt Disney Company, Treasury, Merck, Iger, HCA Healthcare, Global Operations, Multimedia, Senior, Transformation, Peterson Institute for International Economics, Growth, Risk management, International economics, Mergers and acquisitions, University, CFO, Bachelor of Science in Information Technology, Drink, Management

Hugh F. Johnston has been named Senior Executive Vice President and Chief Financial Officer of The Walt Disney Company (NYSE: DIS) effective December 4.

Key Points: 
  • Hugh F. Johnston has been named Senior Executive Vice President and Chief Financial Officer of The Walt Disney Company (NYSE: DIS) effective December 4.
  • Johnston is Vice Chairman and Chief Financial Officer of PepsiCo, where he has held numerous leadership positions during a highly successful 34-year career with the multinational food and beverage giant.
  • I share Bob’s enthusiasm for Disney’s future, and I am incredibly excited to join this management team in this moment of opportunity and possibility.”
    Johnston joined PepsiCo in 1987, and has held a variety of roles, including Executive Vice President, Global Operations, PepsiCo; President, Pepsi-Cola North America; Senior Vice President, Transformation, PepsiCo; Senior Vice President and Chief Financial Officer, PepsiCo Beverages and Foods; and Senior Vice President, Mergers and Acquisitions, PepsiCo.
  • Johnston also served as Vice President, Retail at Merck & Co. from 1999 until 2002, when he rejoined PepsiCo.

Kelly Grier, Retired Chair and CEO of Ernst & Young LLP U.S., Appointed to Booking Holdings Board of Directors

Retrieved on: 
Tuesday, October 24, 2023
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NORWALK, Conn., Oct. 24, 2023 /PRNewswire/ -- Today, the Board of Directors of Booking Holdings Inc. (NASDAQ: BKNG) announced the appointment of Kelly Grier, retired Chair and CEO of leading global professional services firm Ernst & Young LLP (EY) U.S., effective November 6, 2023.

Key Points: 
  • NORWALK, Conn., Oct. 24, 2023 /PRNewswire/ -- Today, the Board of Directors of Booking Holdings Inc. (NASDAQ: BKNG) announced the appointment of Kelly Grier, retired Chair and CEO of leading global professional services firm Ernst & Young LLP (EY) U.S., effective November 6, 2023.
  • Ms. Grier served as the Chair and CEO of EY-US and Managing Partner for the Americas region from 2018 until her retirement in 2022.
  • She also served as the Chair of EY's U.S. Board and as a member of the EY Global Executive and Global Practice Group during that time.
  • "It's an honor to join the Booking Holdings Board of Directors, and to be part of a company that exemplifies operational excellence and continuous innovation to enhance the travel experience for its customers and partners worldwide," said Grier.

Jonathan Pruzan, Former Morgan Stanley COO & CFO, Joins Pretium as President

Retrieved on: 
Tuesday, September 5, 2023
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In this newly created role, Mr. Pruzan will oversee many of Pretium's strategic and operational initiatives, reporting to Don Mullen, Pretium's Founder and CEO.

Key Points: 
  • In this newly created role, Mr. Pruzan will oversee many of Pretium's strategic and operational initiatives, reporting to Don Mullen, Pretium's Founder and CEO.
  • Mr. Pruzan spent the last 28 years with Morgan Stanley, serving in a variety of leadership positions, including Chief Operating Officer, Chief Financial Officer, and Head of Corporate Strategy.
  • As part of Morgan Stanley's leadership team, Mr. Pruzan played a key role in Morgan Stanley's acquisitions of E*Trade Financial, Eaton Vance, and Solium Capital.
  • "Pretium is a fast-growing, integrated firm that supports the entire asset lifecycle by embracing opportunity where others resist complexity.

How have unit profits contributed to the recent strengthening of euro area domestic price pressures?

Retrieved on: 
Friday, June 30, 2023
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Key Points: 

Christine Lagarde: European Parliament plenary debate on the ECB Annual Report

Retrieved on: 
Monday, February 20, 2023
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Strasbourg, 15 February 2023

Key Points: 
  • Strasbourg, 15 February 2023
    I am very pleased to be back here in this plenary room – the heart of European democracy – to participate in today’s important debate.
  • The ECB was granted a democratic mandate to ensure price stability in the euro area.
  • To achieve this mandate, the ECB was also granted a high level of independence.
  • After all, reinforcing trust in our institution also supports our monetary policy, for example by anchoring inflation expectations.
  • Today’s debate on your draft resolution is crucial in both these aspects.
  • Let me start by briefly outlining our assessment of the euro area economy, as discussed by the Governing Council earlier this month.
  • As an anchor of stability, the euro has advanced European integration and strengthened the Single Market’s role in driving growth.
  • The euro has also become a binding symbol and integral part of our shared European identity, as its popularity shows.
  • The ECB is playing its part, notably by ensuring European banking supervision is effective and consistent.
  • As also advocated in your draft resolution, the ECB stands ready to agree on a formalisation, in writing, of the current accountability practices between the ECB and the European Parliament.
  • The ECB has made a proposal to the European Parliament and looks forward to finalising an agreement between our two institutions.
  • Lagarde, C. (2022), “A new global map: European resilience in a changing world”, keynote speech at the Peterson Institute for International Economics, 22 April.
  • ECB (2021) “Eurosystem reply to the Communication from the European Commission “The EU economy after COVID-19: implications for economic governance” of 19 October 2021”, 1 December.

Christine Lagarde: New challenges in a changing world

Retrieved on: 
Saturday, February 4, 2023
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A new beginning often brings with it new challenges, but it also presents us with plenty of opportunities.

Key Points: 
  • A new beginning often brings with it new challenges, but it also presents us with plenty of opportunities.
  • First, with support for an open global trading order on the wane, we are facing new types of shocks to the global economy.
  • For the past few decades, open trade has supported global growth by allowing countries to “rotate” demand during slumps.
  • [2] But now it could become a source of volatility.But now it could become a source of volatility.
  • This was evident during the British Empire in the 19
    th century, as it was with American support in the wake of the Cold War.
  • [3]
    However, major economies – led by the United States and China – are now increasingly using trade to limit the ambitions of geopolitical rivals.
  • The US Inflation Reduction Act, for example, is deliberately aimed at “reshoring” production and reducing the country’s reliance on strategic imports like batteries.
  • [5] China is also seeking to reduce its own dependence on the rest of the world.
  • With the security of supply for critical inputs no longer guaranteed, we are likely to see a new “scramble for resources”.
  • As this new global map takes shape, we enter 2023 facing three big challenges.
  • Inflation in Europe is far too high, partly due to our vulnerability to the changing geopolitics of energy.
  • As we head into 2023, a changing world brings with it new challenges, but also opportunities.
  • International Energy Agency (2022), “The Role of Critical Minerals in Clean Energy Transitions”, World Energy Outlook Special Report, Revised Version, March.
  • European Council (2022), “International taxation: Council reaches agreement on a minimum level of taxation for largest corporations”, 12 December.

Christine Lagarde: Monetary policy in a new environment

Retrieved on: 
Saturday, November 26, 2022
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And this has implications for the focus of macroeconomic policy in the years to come.

Key Points: 
  • And this has implications for the focus of macroeconomic policy in the years to come.
  • And in this context, swings in demand caused by the closing and reopening of the economy have hit a wall.
  • [3] And in this environment, it is uncertain whether a seamless expansion of supply will continue and how global demand will be affected.
  • For monetary policy, this changing environment creates considerable challenges.
  • That is why we have been raising rates at our fastest pace ever by 200 basis points in our last three policy meetings.
  • But we also need to normalise our other policy tools and so reinforce the impulse from our rate policy.
  • But now the environment has changed completely and we need to ensure that the lower cost of funding the TLTRO created for banks does not impede monetary transmission when policy normalisation is required.
  • Similarly, large-scale asset purchases were necessary to expand the policy stance when interest rates were close to the lower bound.
  • In parallel, our tools for preserving the orderly transmission of monetary policy notably flexible reinvestments under the pandemic emergency purchase programme and the new transmission protection instrument will remain in place.
  • Monetary policy will ensure a timely return of inflation to our medium-term target.
  • But the economic outlook will also depend on the alignment between monetary policy and other actors.
  • In the current environment of high inflation, fiscal policy needs to be temporary, targeted and tailored.
  • Looking further ahead, while monetary policy can steer demand, it cannot remove existing constraints on economic growth.
  • The effects of this shift are uncertain, but the duty of monetary policy is not.
  • But if we want to rebuild our supply capacity and strengthen domestic sources of growth, other policy areas need to refocus.
  • International Monetary Fund (2022), Near-term Macroeconomic Impact of Decarbonization Policies,
    World Economic Outlook, October.
  • Lagarde, C. (2022), Monetary policy in a high inflation environment: commitment and clarity, lecture organised by Eesti Pank and dedicated to Professor Ragnar Nurkse, Tallinn, 4 November.

Intel Elects Barbara G. Novick to Board of Directors

Retrieved on: 
Tuesday, November 22, 2022
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Intel Corporation today announced that Barbara G. Novick, co-founder and senior advisor at BlackRock Inc., was elected to its board of directors, effective Dec. 1, 2022.

Key Points: 
  • Intel Corporation today announced that Barbara G. Novick, co-founder and senior advisor at BlackRock Inc., was elected to its board of directors, effective Dec. 1, 2022.
  • View the full release here: https://www.businesswire.com/news/home/20221122005209/en/
    Barbara G. Novick, co-founder and senior advisor at BlackRock Inc., joins Intel's board of directors effective Dec. 1, 2022.
  • (Photo: Business Wire)
    As co-founder and leader of one of the worlds most successful investment firms, Barbara brings a unique perspective to Intels board, said Omar Ishrak, chairman of the Intel board.
  • Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries.

Virginia (Ginni) M. Rometty elected to Cargill's Board of Directors

Retrieved on: 
Thursday, September 15, 2022
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MINNEAPOLIS, Sept. 15, 2022 /PRNewswire/ -- Virginia (Ginni) M. Rometty, former Chairman, President and CEO of IBM, has been elected to the Cargill Board of Directors.

Key Points: 
  • MINNEAPOLIS, Sept. 15, 2022 /PRNewswire/ -- Virginia (Ginni) M. Rometty, former Chairman, President and CEO of IBM, has been elected to the Cargill Board of Directors.
  • We are thrilled to bring her expertise and vision for purpose-driven corporations to Cargill," said Dave MacLennan, Cargill's Board Chair and CEO.
  • In 2020, Rometty was named to the board of directors for JP Morgan Chase.
  • Rometty is a member of the Council on Foreign Relations, the Peterson Institute for International Economics, the Singapore Economic Development Board International Advisory Council, the Mitsubishi UFJ Financial Group Advisory Board and the BDT Capital Advisory Board.

Savvy Cleaner Celebrates Working Moms by Securing Publicist Heather Shelton

Retrieved on: 
Tuesday, September 6, 2022
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CHARLOTTE, N.C., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Savvy Cleaner is encouraging the corporate world to embrace moms returning to work after raising families.

Key Points: 
  • CHARLOTTE, N.C., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Savvy Cleaner is encouraging the corporate world to embrace moms returning to work after raising families.
  • There seems to be a stigma that returning moms are less valuable, or their knowledge and talents are not valid," says Savvy Cleaner's CEO, Angela Brown .
  • Heather Shelton was a natural fit for our Publicist position," adds Brown.
  • When asked about her new employment, Shelton beamed, "The entire Savvy Cleaner team makes me feel welcome.